Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees that pay for the various services involved in the sale of residential real estate. Buyers & sellers negotiate to determine who will pay different portions of these closing costs.

Many of the costs associated with buying residential real estate are associated with getting the mortgage. At BeneGroup, Inc., we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our LEs are very precise, we cannot always predict your costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes vary a little bit at the closing table.

We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you complete your loan application. At BeneGroup, Inc., we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

• Escrow Fees
• Taxes
• Loan-related costs
• Points — lower your interest rate (optional)
• Appraisal Costs
• Credit Report
• Interest Payment

Property Taxes

• Recording Fees and Transfer Taxes
• Insurance

Homeowners Insurance

• Title Insurance
• Flood or Quake Insurance if applicable
• Private Mortgage Insurance (PMI)

BeneGroup, Inc. can answer questions about these closing costs. Give us a call: 4083956018.